IMO the banks need the influx of money. Unfortunately we have masterminded a situation where foreign nationals hold massive amounts of U.S. Dollars. With what ‘I consider’ a healthy economy, foreign nations wouldn’t be in this position. U.S. owned interests would.
What are we going to do as we continue to go down this road and China want’s to unload U.S. Dollars by purchasing assets like our banking institutions?
We are putting ourselves into a very precarious situation. We’ve known this day was coming since the early 1970s. We didn’t think it worthy of a Manhattan style effort to become energy independent. And around 1992, we decided it was a fantastic idea to become the worlds biggest debtor instead of the worlds biggest debt holder.
Well, here we are. We have now come to the place where half our energy has to be purchased from outside the United States, and our financial institutions will be owned by some of those players.
I somehow doubt the United States’ interests are going to be the first concern of foreign nations, but others who have gotten us into this mess are certain to find that a Jim Dandy idea.
I really have to post that old '73 article about how the Arabs should just buy Times Square.
A 'Manhattan style' solution wouldn't have worked.
Think about it, one of the biggest reasons oil is at $90 is because we use so much of it. If we didn't use so much of it the price would be $10, and that 'Manhattan style' solution wouldn't make any economic sense, and would be abandoned.
As long as the world is awash in oil, the solution to our problem is to drill at home. That's something that doesn't need a 'Manhattan style' solution.
We just need to steamroller the libs.
What influx? As I read the article, it appears they are buying bank stocks. The only "influx" would be in the appreciation of any stock the bank holds on itself.